On October 11, crypto market research firm Santiment posted on social media that Bitcoin hit $58,900 in the early hours of this morning, hitting a three-week low. However, market data showed that traders viewed this decline as an opportunity to buy on dips, and the narrative turned bullish. In addition, the US CPI data was also in line with expectations, and the market still believed that interest rates would be cut by 25 basis points in November.